The demand for Golden Visas in Portugal in 2021, or Residence Permits for Investment (ARI), as they are officially called, is accelerating, a trend that should continue in the coming months, bearing in mind that in January 2022 foreign real estate investors (from outside the European Union) investing in the coast and metropolitan areas of Lisbon and Porto will no longer have access to the much loved Golden Visa.
2022 Golden Visa changes
As we have informed in due time the Portuguese parliament passed an official update to the law on February 12, 2021 regarding the Golden Visa program. The changes will take effect on January 1, 2022.
The most important change is that from 2022, Golden Visa eligibility will not apply to residential real estate investments made in metropolitan and coastal areas including Lisbon, Porto, and most of the Algarve. In addition to this, the minimum investment for capital transfer will increase from €1 million to €1.5 million, and the fund investment minimum will increase from €350,000 to €500,000.
Will the changes impact existing investments?
Government representatives have said that they don’t wish for this to impact any ongoing investments. If you are in the process of investing in the coastal and metropolitan areas, don’t worry, there is still time. The official cut-off date is December 31, 2021. By this date, you must have submitted your Golden Visa application. This means that you have until December, 2021, to make investments on the current terms, finalize them, and apply for the Golden Visa.
If you are still thinking about starting the Golden Visa process, you should start by making an investment.
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